Blackstone Mortgage Trust (NYSE:BXMT) Sets New 12-Month High Following Analyst Upgrade

Blackstone Mortgage Trust, Inc. (NYSE:BXMT)’s share price hit a new 52-week high during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $17.50 to $20.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Blackstone Mortgage Trust traded as high as $20.73 and last traded at $20.67, with a volume of 1394347 shares changing hands. The stock had previously closed at $20.53.

A number of other equities analysts have also issued reports on the stock. Keefe, Bruyette & Woods raised their price target on shares of Blackstone Mortgage Trust from $18.50 to $19.50 and gave the stock a “market perform” rating in a research report on Thursday, February 13th. Wolfe Research raised shares of Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research note on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.64.

Institutional Investors Weigh In On Blackstone Mortgage Trust

A number of institutional investors have recently added to or reduced their stakes in BXMT. Smartleaf Asset Management LLC grew its stake in Blackstone Mortgage Trust by 125.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 1,204 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Blackstone Mortgage Trust in the 3rd quarter valued at $39,000. Huntington National Bank grew its stake in Blackstone Mortgage Trust by 1,672.9% in the 4th quarter. Huntington National Bank now owns 3,014 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 2,844 shares during the period. Mountain Hill Investment Partners Corp. acquired a new stake in Blackstone Mortgage Trust in the 4th quarter valued at $56,000. Finally, McIlrath & Eck LLC acquired a new stake in Blackstone Mortgage Trust during the 3rd quarter worth $63,000. Institutional investors and hedge funds own 64.15% of the company’s stock.

Blackstone Mortgage Trust Stock Performance

The firm’s 50 day simple moving average is $18.33 and its 200-day simple moving average is $18.43. The company has a market cap of $3.55 billion, a price-to-earnings ratio of -17.66 and a beta of 1.50.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $1.26. Blackstone Mortgage Trust had a negative net margin of 11.54% and a positive return on equity of 8.62%. As a group, sell-side analysts expect that Blackstone Mortgage Trust, Inc. will post 1.65 EPS for the current fiscal year.

Blackstone Mortgage Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.88 annualized dividend and a yield of 9.10%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is currently -160.68%.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The company originates and acquires senior floating rate mortgage loans that are secured by a first-priority mortgage on commercial real estate assets.